| NOK | EUR | SEK | |
|---|---|---|---|
| Bond loan | 3-month NIBOR* + 4.40% | ||
| Term loan | 3-month EURIBOR + 3.25%** | ||
| Credit facility | 3-month NIBOR +2.35% | 3-month EURIBOR + 2.35% | 3-month STIBOR + 2.35% |
*The Group has hedged the 3 months NIBOR to a fixed rate of 3,843% for the full period
| Bonds terms | NRC02 |
|---|---|
| ISIN | ISIN NO0013049403 |
| Ticker | NRC02 ESG |
| Security type | Senior unsecured open callable green bond |
| Currency | NOK |
| Face value | 400,000,000 |
| Coupon | 3 months NIBOR plus 4.40% p.a |
| Issue date | 25 October 2023 |
| Maturity | 4 years (25 October 2027) |
| Date | Leverage ratio | Interest coverage | Minimum 12 months rolling EBITDA | Minimum liquidity |
|---|---|---|---|---|
| 31.12.24 | Suspended | Suspended | NOK 45 million | NOK 100 million |
| 31.03.25 | Suspended | Suspended | NOK 70 million | NOK 100 million |
| 30.06.25 | Suspended | Suspended | NOK 170 million | NOK 75 million |
| 30.09.25 | Suspended | Suspended | NOK 210 million | NOK 75 million |
| 31.12.25 | <3.25 | >3.00 | Covenant removed | Covenant removed |
| Covenant | Overdraft facility (Danske Bank) |
|---|---|
| Borrowing base | ≤ 60% of accounts receivables |
| Covenants | Bond loan |
|---|---|
| Interest coverage ratio | ≥ 2.50x |
| Leverage ratio | NA |
| Equity ratio | > 25% |